In a new Recess post, blogger CJ Libassi writes that college debt isn't really that big of a deal. People should instead focus their energy toward the way student loans are treated under bankruptcy law.
"As Rotherham writes, only 10 percent of borrowers have over $54,000 in loans and just 3 percent have more than $100,000. But those big debt carriers skew the average and make it less representative of the typical borrower. As Susan Dynarski and Daniel Kreisman of the University of Michigan have pointed out, 69 percent of borrowers owe less than $10,000 and 44 percent of college-goers borrow nothing at all. [...] But if you still have some leftover anger that you would like to direct at something related to higher education, let me suggest one little-discussed feature of student loans: their treatment under bankruptcy law."
Read the entire post, "Your Guide to Getting Angry About College Costs" here.
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-- "As Rotherham writes, only 10 percent of borrowers have over $54,000 in loans and just 3 percent have more than $100,000. But those big debt carriers skew the average and make it less representative of the typical borrower. As Susan Dynarski and Daniel Kreisman of the University of Michigan have pointed out, 69 percent of borrowers owe less than $10,000 and 44 percent of college-goers borrow nothing at all. [...] But if you still have some leftover anger that you would like to direct at something related to higher education, let me suggest one little-discussed feature of student loans: their treatment under bankruptcy law."
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